Foundation invests $3.4M to expand Clark County manufacturer

The Turner Foundation has invested about $3.4 million dollar in a niche manufacturing firm that was on the brink of bankruptcy a few years ago and now is expanding.

The Springfield non-profit has run United Fiberglass of America for the past several years, a small manufacturing business that specializes in producing fiberglass pipe, conduit and bridge drainage infrastructure systems.

Turner recently purchased an office building and manufacturing site at 2145 Airpark Dr. for about $2.4 million, according to property transfer records from the Clark County Auditor’s Office.

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The foundation also has invested about $1 million in new workers and purchasing equipment to make the manufacturing process more efficient, Turner Chief Financial Officer Daren Cotter said.

“We’re not in this like a typical investment to make a lot of money, but we need to see it be successful,” Cotter said of the business.

The company hired about 10 new workers over the last year and is still looking for additional staff. It has about 30 employees now, including both temporary and full-time workers, about twice what it had a year ago.

United Fiberglass has just a handful of competitors and sells its products throughout the U.S. Its conduit products are used in data warehouses and its bridge drainage products are often used in bridge construction and repair projects, particularly along the East Coast.

The company saw about $5 million in sales last year, and Cotter is optimistic that figure could grow as new employees and equipment make the firm more efficient.

The Turner Foundation stepped in to purchase the business around 2005 in an attempt to save a small number of manufacturing jobs after Rick Candahl, the company’s original owner, died and the it was on the verge of closing, Cotter said.

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“It was losing money,” Cotter said. “The bank was going to foreclose on it so the Turner Foundation basically bought the mortgage to save the company and the jobs.”

The company continued to hang on, but faced a handful of lawsuits, including a case in Louisiana in which a contractor accused United Fiberglass of selling a deficient product. United Fiberglass argued it was installed improperly. Court records show the lawsuit in Louisiana was settled in 2013, but the foundation was faced with a difficult choice.

“Basically it was go bankrupt or turn the company around,” Cotter said. “We doubled down and we had really good success this past year. Sales went up about 40 percent and we decided to invest in new equipment, so we’ve got about $1 million in new equipment being installed as we speak.”

The company had been leasing the space at the Airpark Ohio industrial park since 2011, but it became more cost-effective to purchase the property, Cotter said. The business previously operated from a building on Wheel Street in Springfield before moving to the current location.

The manufacturer doesn’t have a president, but the Turner Foundation established a board of directors to run it. Cotter also spends several hours a week at the site to assist with day-to-day management duties.

Chad Moore worked for United Fiberglass as a regional sales manager from 2007 to 2013 before taking a job with a bridge utility contractor. But he returned to United Fiberglass in June last year, this time as vice president of sales and marketing. The new equipment and the additional interest paid to the company will be major steps toward solidifying the company’s future, he said.

“It’s been through a lot of challenges over the years but I always thought if we had the right people in the right places the possibilities were endless.”

The Turner Foundation has some previous experience turning around a business.

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The foundation stepped in to purchase the former Springfield Inn in downtown Springfield about a decade ago when it was on the verge of foreclosure. The site became the Courtyard by Marriott in downtown Springfield, which was sold to Waramaug LS Hotels, a Florida-based hospitality group in 2015.

“We as a foundation and ownership group decided we really want to see this company grow both for the jobs and hopefully we get a return on our investment as well,” Cotter said. “Eventually we’d like to sell the company and see someone else enjoy it kind of like we did with the hotel.”


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By the numbers

$2.3 million — Purchase price of site on Airpark Drive

30 — Number of employees at United Fiberglass

$1 million — Estimated investment in new equipment

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